{"id":6840,"date":"2017-10-30T22:00:56","date_gmt":"2017-10-30T22:00:56","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/what-do-growth-estates-have-in-common\/"},"modified":"2017-10-30T22:00:56","modified_gmt":"2017-10-30T22:00:56","slug":"what-do-growth-estates-have-in-common","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/what-do-growth-estates-have-in-common\/","title":{"rendered":"What do growth estates have in common?"},"content":{"rendered":"

<\/p>\n

\n

Buying a property in one of the hundreds of housing<\/a> estates across Australia is a no-brainer for many families.<\/strong><\/p>\n

In most cases the land or package is comparatively cheap, allowing them to purchase a home that is significantly larger than anything they could buy close to the city, and for a fraction of the cost.<\/p>\n

But with so many estates dotting the landscape, how do you identify the ones that offer<\/a> good value, as well as excellent potential for growth?<\/p>\n

Here\u2019s what to look for in a high-performing estate area.<\/p>\n

\"housing<\/p>\n

Buying a property in a housing estate is a no-brainer for many families. Picture: Getty<\/p>\n<\/div>\n

Access to amenities<\/h2>\n

It comes as no surprise that many of the best-performing estate areas already have good access to shops, schools and other amenities.<\/p>\n

Any advantage in buying a great home in a new estate could quickly be eroded if it takes years for the surrounding infrastructure to catch up.<\/p>\n

Parley Property Advisory\u2019s Luke Assigal warns that you should ensure that planned infrastructure projects have already started or have iron clad timelines for when construction will begin.<\/p>\n

\u201cYou find a lot of places at the moment, they said they\u2019d have a train station five years ago, and they still haven\u2019t got one,\u201d he says.<\/p>\n

\u201cIn those areas, when they build, you tend to find it\u2019s like the chicken comes before the egg. You\u2019ve got all these houses<\/a> and you\u2019ve got no train station, no shopping centre. You\u2019ve got to drive 20 minutes to get to anything, which doesn\u2019t seem like much, but with the convenience other areas have, it\u2019s a lot.\u201d<\/p>\n

The importance of buying near infrastructure:<\/strong><\/em><\/p>\n

Land quality<\/h2>\n

The cost of building, and subsequently demand and price growth, can be affected significantly by the land itself, according to Max Brown agent Tony Smith.<\/p>\n

Smith says estates that are relatively flat or gently sloped, like some currently for sale in Melbourne\u2019s outer south-east, always have greater appeal.<\/p>\n

\u201cThe land out there is all really nice. It\u2019s all gently sloping, which doesn\u2019t sound very interesting, but when you go to other areas where you\u2019ve got slope, it can add $40,000 or $50,000 to someone\u2019s house costs,\u201d he says.<\/p>\n

\u201cPeople are focusing on affordability, so if they can buy a block for $300,000 and build a house for $200,000, they\u2019re getting themselves a new home for $500,000. But if the area\u2019s got slope and it jumps the price to $540,000, that knocks them out.\u201d<\/p>\n

Cultural lure<\/h2>\n

Finding an estate area with an in-built network of demand is one of the hidden keys to performance and growth.<\/p>\n

And Smith says targeting regions with a strong representation from certain cultural demographics can yield big results down the track.<\/p>\n

He highlights one such Melbourne region, with a booming Indian population, as an example, saying land prices in one estate have soared from an average of $250,000 a year ago to $350,000 now, due largely to that acute demand.<\/p>\n

\u201cIt\u2019s been embraced by the Indian community, and that\u2019s the number one reason. They\u2019re moving down there because their community\u2019s down there,\u201d he says.<\/p>\n

\u201cIt\u2019s a big pull for people. And then what happens is everything in that area starts to adjust to that \u2013 the style of schools and shops and restaurants.\u201d<\/p>\n

\"multicultural<\/p>\n

Finding an estate area with a cultural network is one of the hidden keys to performance and growth. Picture: Getty<\/p>\n<\/div>\n

Proximity to CBD<\/h2>\n

It\u2019s generally the case that most of the newer housing estates are some distance from the CBD. That\u2019s where all the available land is, after all.<\/p>\n

But find one that\u2019s a little closer in and you could strike gold.<\/p>\n

Smith says one growth area in Melbourne\u2019s north-east has experienced price increases of 50% in a very short period of time, purely because it\u2019s much closer to the city than others of comparable scale.<\/p>\n

\u201cWe started off selling at $200,000, now we\u2019re at about $300,000,\u201d he says.<\/p>\n

\u201cIt\u2019s had more growth than anywhere because it\u2019s 35km from the city, whereas other areas are 55km from the city, and it\u2019s still cheaper than those areas.\u201d<\/p>\n

See Australia\u2019s top 10 growth suburbs<\/strong><\/em><\/p>\n

Supply just right<\/h2>\n

Nothing will kill good growth quicker than an oversupply of properties in one area.<\/p>\n

Finding a housing estate that is well priced but has a touch of scarcity is a good start, so be sure to investigate the surrounding area, to ensure other developers aren\u2019t about to pour hundreds more properties or lots onto the market just minutes down the road.<\/p>\n

\u201cYou don\u2019t know that a developer has just bought or is subdividing about 200 lots in that area, and that\u2019s going to flood the market,\u201d Assigal says.<\/p>\n

\u201cYou look at the areas that are going crazy at the moment, there\u2019s so much demand and not enough supply, and they\u2019re the areas where people will be happy to pay over the market.\u201d<\/p>\n

\n <\/p><\/div>\n

Realestate au <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Buying a property in one of the hundreds of housing estates across Australia is a no-brainer … What do growth estates have in common?<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":6841,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[981,695,1403,15239,2890,1398,62,12908,543,617,489,344,258,41,818,15282,15296],"class_list":["post-6840","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-a-house","tag-agent","tag-buy","tag-chase","tag-construction","tag-developers","tag-for-sale","tag-home","tag-home-buying-guide","tag-house","tag-houses","tag-housing","tag-new-home","tag-property","tag-real","tag-ross","tag-target"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/housing-estates_2000x1500.jpg?fit=2000%2C1500&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":7661,"url":"https:\/\/amazingproperty.com.ng\/blog\/are-all-new-estates-the-same\/","url_meta":{"origin":6840,"position":0},"title":"Are all new estates the same?","author":"Amazing Property","date":"January 1, 2018","format":false,"excerpt":"New estates are often perceived as homogenised and uninspiring, but housing developments are changing, according to one expert. Building consultant Kerri-Ann Hooper, director of Carnelian Projects, which works with turn-key builders in the Hunter and Central Coast regions of New South Wales, says estates are no longer \u201call the same\u201d.\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"New Estates 800x6001.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/new-estates_800x6001.jpg?fit=800%2C600&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/new-estates_800x6001.jpg?fit=800%2C600&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/new-estates_800x6001.jpg?fit=800%2C600&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/new-estates_800x6001.jpg?fit=800%2C600&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":7154,"url":"https:\/\/amazingproperty.com.ng\/blog\/edo-agency-to-re-certify-estate-residents-begin-rent-recovery\/","url_meta":{"origin":6840,"position":1},"title":"Edo agency to re-certify estate residents, begin rent recovery","author":"Amazing Property","date":"November 20, 2017","format":false,"excerpt":"Real estate The Edo Development and Property Authority (EDPA) will from ending of this month embark on re-certification and rent recovery exercise of residents in its estates across the state. In a statement, the Executive Chairman, EDPA, Isoken Omo, said the exercise, which is expected to last for eight weeks,\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Real estate news","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/Real-Estate1.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/Real-Estate1.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/Real-Estate1.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/Real-Estate1.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/Real-Estate1.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":6671,"url":"https:\/\/amazingproperty.com.ng\/blog\/edo-plans-new-estates-towns-targets-diaspora-community\/","url_meta":{"origin":6840,"position":2},"title":"Edo plans new estates, towns, targets diaspora community","author":"Amazing Property","date":"October 19, 2017","format":false,"excerpt":"As part of reforms in the Edo State housing sector to open up the state to real estate investments, the Edo State Government has rolled out plans to build new towns and estates aimed at decongesting Benin City, with special packages for the diaspora community.Governor Obaseki Executive Chairman of the\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Edo Obaseki.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Edo-Obaseki.png?fit=412%2C250&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":8389,"url":"https:\/\/amazingproperty.com.ng\/blog\/how-to-choose-the-right-new-estate-for-you\/","url_meta":{"origin":6840,"position":3},"title":"How to choose the right new estate for you","author":"Amazing Property","date":"February 22, 2018","format":false,"excerpt":"The popularity of new housing estates continues unabated in most Australian capital cities. For many young couples, families and first homebuyers, a house in an estate is one of the only affordable avenues into the housing market, if they want a substantially sized home on a decent block of land.\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Builder Couple Getty A 1024x768.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/builder_couple_getty_a-1024x768.jpg?fit=1024%2C768&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/builder_couple_getty_a-1024x768.jpg?fit=1024%2C768&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/builder_couple_getty_a-1024x768.jpg?fit=1024%2C768&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/builder_couple_getty_a-1024x768.jpg?fit=1024%2C768&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":5054,"url":"https:\/\/amazingproperty.com.ng\/blog\/understanding-restrictive-covenants\/","url_meta":{"origin":6840,"position":4},"title":"Understanding restrictive covenants","author":"Amazing Property","date":"June 25, 2017","format":false,"excerpt":"[ad_1] Building a house involves countless decisions about fixtures, finishes and fabrications, but owners need to ensure a new home follows the rules set out in its covenant. What is a restrictive covenant? Covenants \u2013 referred to as \u2018estate covenants\u2019 in housing estates \u2013 place restrictions on how a home\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/Mandalay-streetscape-2000x1500-1024x768.jpg?fit=1024%2C768&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/Mandalay-streetscape-2000x1500-1024x768.jpg?fit=1024%2C768&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/Mandalay-streetscape-2000x1500-1024x768.jpg?fit=1024%2C768&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/Mandalay-streetscape-2000x1500-1024x768.jpg?fit=1024%2C768&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":2878,"url":"https:\/\/amazingproperty.com.ng\/blog\/stone-ridge-estates-condos-in-dix-hills-long-island-ny\/","url_meta":{"origin":6840,"position":5},"title":"Stone Ridge Estates Condos In Dix Hills Long Island NY","author":"Amazing Property","date":"March 31, 2017","format":false,"excerpt":"Want to know if there are any Condos for sale in Stone Ridge Estates At Dix Hills, or do you want to sell your unit? You can reach this convenient location in Western Suffolk County 1 mile South of\u00a0 The Long\u00a0 Island Expressway Exit 51. Take Deer Park Avenue to\u2026","rel":"","context":"In "Property owner"","block_context":{"text":"Property owner","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/property-owner\/"},"img":{"alt_text":"Stone Ridge Estates Condos","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/Stone-Ridge-Estates-Condos.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/6840","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=6840"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/6840\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/6841"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=6840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=6840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=6840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}